HomeMy WebLinkAbout2025-05-05 Town Council Special Meeting MinutesTown Council Meeting Minutes of May 5, 2025. Page 1
Vail Town Council Meeting Minutes
Monday, May 5, 2025
4:00 P.M.
Vail Town Council Chambers
The meeting of the Vail Town Council was called to order at approximately 4:00 P.M. by Mayor
Travis Coggin.
Members present: Travis Coggin, Mayor
Barry Davis, Mayor Pro Tem
Pete Seibert
Jonathan Staufer
Reid Phillips
Samantha Biszantz
Members absent: Dave Chapin
Staff members present: Russell Forrest, Town Manager
Kathleen Halloran, Deputy Town Manager
Matt Mire, Town Attorney
Steph Johnson, Acting Town Clerk
1. Call to Order
2. Information Update
2.1 April 2025 Revenue Update
This agenda item was information only and was not discussed during the meeting.
Discussion for Vail Economic Update Report began at time stamp 00:14:25 on the High Five
Video.
2.2 Vail Economic Outlook Report
Presenter(s): Liz Gladitsch, Marketing Manager and Chris Romer, Vail Valley Partnership.
3. Presentation/Discussion
Discussion for West Middle Creek Project Overview and Community Impacts began at time
stamp 00:00:26 on the High Five Video.
3.1 West Middle Creek Project Overview and Community Impacts
Presenter(s): Russ Forrest, Town Manager, Jason Dietz, Housing Director, and Eric Komppa,
Corum Real Estate Group
Listen to presentation and provide feedback.
Town Council Meeting Minutes of May 5, 2025. Page 2
Background: Council will receive latest information on the West Middle Creek project, including
community impacts in the early stages.
4. Action Items
Discussion for West Middle Creek Financing Update and Decision began at time stamp
00:26:03 on the High Five Video.
4.1 West Middle Creek Financing Update and Decision
Presenter(s): Russ Forrest, Town Manager, Kathleen Halloran, Deputy Town Manager
Listen to presentation and provide staff with direction on proceeding with financing of West
Middle Creek project.
Background: The purpose of this presentation is to provide Council with a final update on the
project, the financing structure based on current interest rates, and equity contribution options.
Staff is requesting final approval from Council before proceeding with the bond sale on
Tuesday, May 6.
Public comment was called at timestamp 1:00:16 on the High Five video. Public comment
ended at timestamp 1:15:02 on the High Five Video.
Davis made a motion to authorize the Town Manager to take the necessary next steps to issue
up to 75 million dollars in Certificate of Participation (COP) bonds for West Middle Creek;
Seibert seconded; motion passed (5-1, Staufer opposed).
There being no further business to come before the council, Davis made a motion to
adjourn the meeting; Staufer seconded; meeting adjourned at 5:29pm.
Respectfully Submitted,
__________________________________
Travis Coggin, Mayor
Attest:
______________________________
Stephanie Johnson, Acting Town Clerk